The New York Times said Trump waved a draft letter firing Powell at an Oval Office meeting late Tuesday. Trump had gathered a group of Republicans that had blocked a procedural vote that would have advanced crypto legislation, to convince them to let the legislation advance. Odds of Powell being fired surged to 40% on prediction market Kalshi.

Trading desks across Wall Street have benefited as President Donald Trump's tariff policies have roiled markets for bonds, currencies, commodities and stocks.

Profits at Goldman Sachs surged from boosts in trading and dealmaking, the latest example of how big Wall Street banks were able to recover from the market chaos triggered by President Trump's tariffs.

Goldman Sachs's trading revenue for the second quarter was worth $4.3 billion, $600 million higher than expectations.

Two years ago, it was hard to think of a Wall Street boss under more pressure than David Solomon. The Goldman Sachs chief was wrestling with an abundance of problems, from a failed attempt at consumer banking to a wave of real estate losses. Solomon’s DJ-ing hobby, lavish bonuses, unhappy juniors and private jet habit hadn’t helped.